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USDA-SJ: Weekly National Grain Market Review

St. Joseph, MO - Fri May 19, 2017 - USDA-MO Dept of Ag Market News


WEEKLY NATIONAL GRAIN MARKET REVIEW

   Compared to last week, grain bids were mixed, while soybeans were lower.  
Total corn export shipments remain bullish indicating USDA’s projected total 
demand of 2.225 bb is too low.  Friday we’ll find out whether the 2017 corn crop 
reached the tipping point where forecasts of rain could now be viewed as 
bearish.  Soybeans old-crop July and new-crop November are in a position to 
establish double-bottom technical patterns on weekly charts.   The situation in 
Brazil is far from stable leaving global soybean markets vulnerable to another 
round of strong commercial selling.  Commercial buying could be brought back to 
winter wheat as there is another round of strong spring storms expected 
overnight.  Total export shipments of wheat are indicating USDA’s demand 
projection of 1.035 is too high.  Weekly export sales for wheat were neutral-to-
bearish coming in at 23.5 mb (640,700 mt) including 9.1 mb (247,600 mt) for the 
2016-2017 marketing year.  Export sales for corn were bullish coming in at 34.4 
mb (873,300 mt) with 27.8 mb (705,300) for the 2016-2017 marketing year. 
Soybeans were neutral-to-bullish coming in at 14.6 mb (396,800 mt) with 13.1 mb 
(355,300 mt) for the 2016-2017 marketing year.  Wheat were mixed from 33 cents 
lower to 16 cents higher.  Corn were mixed from 1/4 lower to 6 higher.  Sorghum 
were mixed from 5 cents lower to 30 cents higher.  Soybeans were 11-23 cents 
lower. 

   WHEAT:  Kansas City US No 1 Hard Red Winter, ordinary protein rail bid was 14 
3/4 cents lower from 4.21-5.11 per bushel.  Kansas City US No 2 Soft Red winter 
rail bid was not quoted.  St. Louis truck US No 2 Soft Red Winter terminal bid 
was 2 to 8 cents higher from 3.90-4.34 per bushel.  Minneapolis and Duluth US No 
1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 33 1/2 cents 
lower to 16 1/2 cents higher from 6.24 3/4-6.84 3/4 per bushel.  Portland US 
Soft White wheat rail was 2 cents lower to 3/4 cents higher from 4.70 3/4-4.85 
per bushel.

   CORN:  Kansas City US No 2 rail White Corn was steady to 3 cents higher from 
3.52-3.60 per bushel.  Kansas City US No 2 truck Yellow Corn was 1 1/2 to 6 3/4 
cents higher from 3.56 per bushel.  Omaha US No 2 Yellow Corn was 2 to 3 cents 
lower from 3.38-3.42 per bushel.  Chicago US No 2 Yellow Corn was 3 1/4 cents 
lower to 3 3/4 cents higher from 3.36-3.71 per bushel.  Toledo US No 2 rail 
Yellow corn was 3/4 to 1 3/4 cents higher from 3.57-3.58 per bushel.  
Minneapolis US No 2 Yellow corn rail was 1/4 cent lower at 3.34 per bushel.

   OATS AND BARLEY:  US 2 or Better oats, rail bid to arrive at Minneapolis 20 
day was 1/4 to 6 1/4 cents lower from 2.66-2.76 per bushel.  US No 3 or better 
rail malting Barley, 70 percent or better plump out of Minneapolis was not 
available.  Portland US 2 Barley, unit trains and Barges-export was not 
available.

   SORGHUM:  US No 2 yellow truck, Kansas City was 30 cents higher at 6.18 per 
cwt.  Texas High Plains US No 2 yellow sorghum (prices paid or bid to the 
farmer, fob elevator) was 5 cents lower to 6 cents higher from 5.30-5.64 per 
cwt.

   OILSEEDS:  Minneapolis Yellow truck soybeans was 18 1/2 cents lower at 9.14 
3/4 per bushel.  Illinois Processors US No 1 Yellow truck soybeans were 21 1/2 
to 23 1/2 cents lower from 9.29 3/4-9.42 3/4 per bushel.  Kansas City US No 2 
Yellow truck soybeans were 11 1/2 cents lower at 9.24 3/4 per bushel.  Illinois 
48 percent soybean meal, processor rail bid was 7.40 lower from 297.50-308.50 
per ton.  Central Illinois Crude Soybean oil processor bid was 0.05 points lower 
from 29.94-31.19 cents per pound.

SOURCE:  USDA-MO Dept of Ag Market News Service, St Joseph, MO
         Dakota Arthur, Market Reporter (816)676-7000
         www.ams.usda.gov/mnreports/SJ_GR851.txt
         For more Grain Market News:
         https://www.ams.usda.gov/market-news/livestock-poultry-grain 
  
0855C    dsa

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